Frequently
Asked Questions ???????
Q.1 What is SEWA Bank's client profile like?
Q.2 How do these women come to SEWA Bank?
Q.3 How many depositors do SEWA Bank have?
Q.4 What kind of services do SEWA Bank provide?
Q.5 What is SEWA Bank's Credit Fund made up of ?
Q.1 What
is SEWA Bank's client profile like?
A.1 SEWA Bank's account holders are approximately
made up of 70 per cent urban and 30 per cent rural self-employed women. The majority of
these women are also members of SEWA Trade Union. The urban, female depositors of SEWA
bank, are engaged in three predominant activities:
- Vendors
- Labourers or small service providers
- Home-based workers
The average monthly income of a member of
SEWA Bank is Rs 1,000, whereas the average income of her whole family of 5-7 members is Rs
2,500 per month.
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Q.2 How do these women come
to SEWA Bank?
A.2 SEWA Bank's depositors come to the Bank through three main
sources:
- Through SEWA organisers: who work in the
field and are in personal contact with self-employed women, on a day to day basis.
- Through existing members of SEWA and SEWA
Bank.
- Through word of mouth.
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Q.3 How many depositors does
SEWA Bank have?
A.3 To date, SEWA Bank has over 1,75,000 depositors.
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Q.4 What kind
of services do SEWA Bank provide?
A.4 SEWA Bank provides a range of savings, loan and
insurance products and services including:
Income generation loans
Limited number of
consumption loans (for emergencies)
Housing/infrastructure
upgradation loans
Integrated work
security scheme on a contributory basis, providing life insurance, work security insurance
and maternity benefits
Loans to participate in
Ahmedabad Municipal Corporation's 'Parivartan' programme
Variety of savings
products based on the recurring deposit principle, including a daily collection scheme
Comprehensive insurance
product covering natural and accidental death, health and asset loss
Personal financial
counselling
Business
counselling/advice/literacy for self employed, poor women.
Training programmes on
opening and effectively using a bank account.
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Q.5 What is
SEWA Bank's Credit Fund made up of ?
A.5 SEWA Bank's Credit Fund is made up of:
- 1974-1997 - only savings mobilized from
own depositors
- 1998 – Additional funds of Rs 2.88
crore from HUDCO, for longer term housing/infrastructure loans
- 1999 - Additional funds of Rs 2.7 crore
from HDFC, for longer term housing/infrastructure loans
- Currently, SEWA Bank has an average loan
repayment rate of 94 per cent.
- SEWA Bank charges its clients 17 per cent
interest rate per annum on loans from its own depositors' credit fund, and 14.5 per cent
interest rate per annum on loans accessed from mainstream Housing Finance Institutions
(HFIs).
- Maximum loan amount per individual: Rs
25,000
- No collateral is required in order to
procure a loan form SEWA Bank, but a guarantor (formally employed, possessing a valid pay
slip) is required for all loans.
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